Raymond James Financial Inc. Invests $4.75 Million in Concentrix Co. (NASDAQ:CNXC)

Raymond James Financial Inc. bought a new position in Concentrix Co. (NASDAQ:CNXC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 109,833 shares of the company's stock, valued at approximately $4,752,000. Raymond James Financial Inc. owned approximately 0.17% of Concentrix at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CNXC. Steward Partners Investment Advisory LLC grew its holdings in shares of Concentrix by 81.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after purchasing an additional 286 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Concentrix by 159.6% during the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock worth $34,000 after buying an additional 490 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Concentrix by 58.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after acquiring an additional 444 shares during the last quarter. KBC Group NV raised its stake in shares of Concentrix by 68.3% in the fourth quarter. KBC Group NV now owns 2,008 shares of the company's stock worth $87,000 after acquiring an additional 815 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its position in shares of Concentrix by 665.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 4,169 shares of the company's stock worth $180,000 after purchasing an additional 3,624 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CNXC. Bank of America upped their price objective on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Canaccord Genuity Group decreased their price target on Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Finally, Barrington Research dropped their price objective on Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, March 24th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $65.75.

Concentrix Trading Up 0.3 %

Concentrix stock traded up $0.15 during midday trading on Thursday, hitting $51.21. 62,918 shares of the stock were exchanged, compared to its average volume of 699,329. Concentrix Co. has a 52 week low of $36.28 and a 52 week high of $77.00. The stock has a market capitalization of $3.27 billion, a PE ratio of 13.87, a P/E/G ratio of 0.63 and a beta of 0.51. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. The company has a fifty day simple moving average of $47.90 and a two-hundred day simple moving average of $46.36.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating analysts' consensus estimates of $2.58 by $0.21. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The business's revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.57 earnings per share. Equities research analysts anticipate that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th will be issued a $0.3328 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.60%. Concentrix's dividend payout ratio (DPR) is 33.33%.

Insider Transactions at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell bought 1,000 shares of Concentrix stock in a transaction that occurred on Monday, April 21st. The stock was acquired at an average price of $46.00 per share, for a total transaction of $46,000.00. Following the completion of the acquisition, the chief executive officer now owns 303,362 shares of the company's stock, valued at $13,954,652. This trade represents a 0.33 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction on Monday, March 31st. The shares were sold at an average price of $55.31, for a total transaction of $27,655.00. Following the completion of the sale, the executive vice president now owns 39,130 shares in the company, valued at $2,164,280.30. The trade was a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.20% of the stock is owned by insiders.

About Concentrix

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.